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Mexico’s support for Pemex to drive widening fiscal deficit, Moody’s says

RIO DE JANEIRO, BRAZIL - Mexico’s fiscal deficit will widen to 4.1% of gross domestic product this year, with ongoing support for ailing state oil company Petroleos Mexicanos (Pemex) driving up debt, ratings agency Moody’s Investors Service said on Wednesday, February 24th.

Pemex will need US$14.7 billion in government support this year alone, Moody’s said in a statement.

This support will ratchet up the fiscal deficit, Moody’s said in . . .

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